U.S. President Donald Trump walks on the South Lawn after returning to the White House in the early morning hours from a trip to Mississippi November 27, 2018 in Washington, DC.
Alex Wong—Getty Images
By Associated Press
November 28, 2018

WASHINGTON — President Donald Trump says he thinks the Federal Reserve’s policies are a greater threat to U.S. economic growth than a burgeoning trade war with China.

Trump told The Washington Post on Tuesday: “I think the Fed is a much bigger problem than China.”

Trump adds that he is “not even a little bit happy” with Fed Chairman Jay Powell, whom he selected last year.

The Fed has raised interest rates steadily under Powell’s leadership as the central bank has tried to balance promoting maximum employment with controlling inflation. Those decisions have drawn rebukes from Trump, who wants the Fed to focus on economic growth.

Trump says: “They’re making a mistake because I have a gut, and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

Contact us at editors@time.com.

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